Injection Molded Plastics Global Market Report 2023

Major players in the injection molded plastics market are ExxonMobil Corporation, BASF SE, DuPont de Nemours Inc., Dow Inc., Huntsman International LLC., Eastman Chemical Company, INEOS Group, LyondellBasell Industries Holdings B.

New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Injection Molded Plastics Global Market Report 2023" - https://www.reportlinker.com/p06479939/?utm_source=GNW V., SABIC (Saudi Arabia’s Basic Industries Corporation), Magna International Inc., IAC Group, Berry Global Inc., HTI Plastics Inc., Rutland Plastics, The Rodon Group, Heppner Molds Inc., Formosa Plastics Corporation, and Reliance Industries Limited.The global injection molded plastics market is expected to grow from $300.83 billion in 2022 to $316.76 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The market is expected to reach $381.91 billion in 2027 at a CAGR of 4.8%.The injection molded plastics market consists of sales of acrylic (PMMA), nylon polyamide (PA), and polycarbonate (PC).Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Injection molded plastics refer to the manufacturing process of melting plastic pellets and injecting the molten plastic into a mold cavity. Injection molded plastics are used to make toys, automotive parts, electronic enclosures, and medical devices.Asia-Pacific was the largest region in the injection molded plastics market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in the injection molded plastics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main raw material of injection molded plastic includes polypropylene (PP), acrylonitrile butadiene styrene (ABS), high-density polyethylene (HDPE), polystyrene (PS), and others.Polypropylene (PP) refers to a thermoplastic polymer made from propylene monomer, a type of hydrocarbon molecule, through a process called polymerization.It is used in various industries due to its versatility, durability, and chemical resistance. The type of injection molded plastic includes electric type, hydraulic type, and hybrid type that is applied in the automotive, medical industry, food and beverage industry, consumer goods industry, electronics and telecom industry, construction, shoe industry, home appliance, and others.Increasing spending on construction is expected to drive the injection molded plastic market going forward.Construction refers to the process of building or assembling something, typically a structure, using various materials and techniques for residential and commercial purposes.Injection molded plastics are widely used in many construction applications such as floorings, roofing, walls, and insulation for their higher durability, lighter weight, and greater insulation properties.For instance, in December 2022, according to the Federal Reserve Bank of St.Louis, a US-based central bank, total spending on commercial construction reached $131 million, increasing from $103 million in December 2021.Furthermore, in May 2022, the total spending on residential construction topped $954 million, increasing from $797 million in May 2021.Therefore, the increasing construction spending will propel the injection molded plastics market.Product innovations are a key trend gaining popularity in the injection-molded plastics market.Major companies in the market are using new technology to introduce innovative products to sustain their position in the market.For instance, in July 2022, Saudi Arabia’s Basic Industries Corporation (SABIC), a Saudi chemical manufacturing company, introduced a specially personalized portfolio of new mineral-reinforced SABIC PP compounds, PPc F9015, PPc F9005, and PPc F9005 grades made from foam injection molding (FIM). The newly introduced product makes up excellent aesthetics for automotive interior parts such as seat and trunk cladding, door panels and trim, and A/B/C/D pillar covers.In November 2022, NewCo Plastics, a US-based vertically integrated manufacturer of custom plastic injection molded parts and custom molds, acquired PM Mold for an undisclosed amount.Through this acquisition, NewCo Plastics aimed to improve its comprehensive suite of manufacturing services from product design to final shipment.NewCo Plastics is a US-based plastic manufacturing platform formed by White Wolf Capital.The countries covered in the injection molded plastics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The injection molded plastic market research report is one of a series of new reports that provides injection molded plastic market statistics, including injection molded plastic industry global market size, regional shares, competitors with injection molded plastic market share, detailed injection molded plastic market segments, market trends, and opportunities, and any further data you may need to thrive in the injection molded plastic industry. This injection molded plastic market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: https://www.reportlinker.com/p06479939/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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